Some Indian exporters claim that buying interest from Chinese buyers are missing and markets are expecting a price range of USD 130-131/MT CFR China for Fe 63.5/63. Although, no trades have been heard concluded recently.
The reason behind low demand is that mills are currently facing tight cash availability and they have required stock available.
Mill scale offers are at around USD131-132/DMT CNF China.
Currently, square billet prices are at around RMB 2,970/MT (EXW; VAT included) in Tangshan, up by RMB 10/MT. The most briskly traded rebar contract for May delivery up by RMB 13/MT and closed at around RMB 3,628/MT. The most active Fe 62 Iron ore contract for May delivery closed at RMB 900/DMT, raise by RMB 8/DMT from last close.
Trade Wise
China based traders sold Iron ore Fines at following prices at various ports:
|
Grade |
Material description |
Prices |
Ports |
|
Fe 65 |
Ukrainian |
RMB 1,000/MT |
Shandong port |
|
Fe 57.5 |
Yandi fines |
RMB 810/MT |
Shandong port |
|
Fe 56.5 |
SSF |
RMB 775/MT |
Southern port |
|
Fe 56 |
SSF |
RMB 785/MT |
Shandong port |
USD 1= RMB 6.1145
Tenders
On Dec 23, a tender of 110,000 MT of Fe 62 MNP sold at USD 131/MT through GlobalORE, with January delivery.
A tender of 170,000MT of Fe 61 PB fines were sold at around USD 130.6/MT through CBMX, with January 6-15 laycan.
India
Indian pellet demand also weakens in line with falling Chinese demand. Current offers are at USD 175/MT CFR China, for Jan/Feb shipment; buying is taking place at lower price levels.
Today, 15,480 MT Iron ore was loaded into a vessel of B.S.S trader named MV Capital at Vizag port, on WQ-2, out of the total 64,000 MT.
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